Why is it that the whole world believes in the power of money. In reality money is only a figment of our imagination, a counting unit. Money came about only through our faith in money.

Here's a small example that almost ruined a bank: in the year 1974 the Herstatt-Bank in Cologne as a result of a prophecy about interest rates went bankrupt. The customers of the Cologne Stadtsparkasse also got nervous.

Some took all their money out of their savings accounts, counted it - and then put it right back into their accounts again.

The best example for the opposite is the trust in currency. Today, still, one can buy a car for his money, but tomorrow the money might be worth half as much. As soon as this faith is lost a economic catastrophy could be the result.

Why does one believe in money
and a monetary system.